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Stop ranting: Judge orders woman

SINGAPORE

But each time, Mdm Linda Lai Swee Lin, 54, blatantly ignored the judge’s order — even after she was warned she could be held in contempt of court and policemen were called in.

Yesterday, Mdm Lai created a stir in the High Court as she insisted on reading out a prepared speech and disregarded the court procedure, prompting a visibly-annoyed Justice Lai Siu Chiu to ask her to “stop your ranting”.

Mdm Lai, who is representing herself, is hoping to get reinstated at the Land Office of the Law Ministry.

On Monday — the first day of the hearing — the Government conceded there was a breach in its employment contract when Mdm Lai lost her job in December 1998.

The hearing resumed yesterday and Mdm Lai took the opportunity to begin her speech — in which she ranted against the civil service — when she was asked to cross-examine her former superior Liew Choon Boon.

Mdm Lai passed up her chance to cross-examine five other witnesses — comprising mostly her former colleagues — as she continued reading from the piece of paper.

“I am totally exhausted. However, if I walk away ... the truth would be buried,” she said. The hearing continues.

— Time and again, the judge warned the former civil servant, who is seeking redress for alleged wrong dismissal, to stop talking.NG JING YNG

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Friday, 13 August 2010

Hong Kong share issue for Genting Singapore?

Will Genting Singapore (GENS), the unit that holds Genting's interest in Resorts World Sentosa (RWS), do a secondary share issue soon, as rumoured in Singapore's financial markets?

And could such a secondary share issue be done in Hong Kong rather than on the Singapore bourse?

The assumption behind those questions is that any share issue by GENS would be based upon the asset of RWS. That assumption may be erroneous, as we've seen already with Wynn Macau's listing in Hong Kong, where the bulk of the cash supported the core operation in Las Vegas.

In GEN's case The Genting parent already has investments in other parts of Asia, namely via Star Cruises (Genting Hong Kong) and a 50 percent joint venture holding by Star Cruises in a casino operation at Resorts World Manila in the Philippines.

Why shouldn't Genting take the strategy one step further and get its Singapore unit to invest in assets in another major neighbouring market such as Macau? GENS has had a Hong Kong investment company set up and ready to go since July last year.

That month Genting International PLC (now GENS) announced that it had incorporated Genting Singapore (HK) Limited (GSHK) as its new wholly owned subsidiary in Hong Kong. The principal activities of GSHK were listed at that time as investment, marketing and promotion.

So what would be the point of GENS raising money in Hong Kong? One possibility is that cash raised in Hong Kong by the GENS subsidiary could be used to buy direct stakes in Macau casino operators. Investment in Macau would make sense because of the regional and cultural fit. It certainly makes more sense than GENS having holdings in UK casinos–an historical anomaly and an investment recently sold to the Genting parent.

In theory anyone investing in this GENS Hong Kong vehicle would also gain exposure to RWS in Singapore, and that takes us back to the dilution issue. If RWS investors had wanted exposure to other markets, they would have put their money into the Malaysian parent Genting Group, not into GENS, goes the thinking.

Concern about dilution of existing shareholders was given as one reason why GENS' share price fell 3.1% at the beginning of August. The movement was interpreted by some analysts as stimulated by a sell off due to profit taking while the going was good.

But given that the Macau gaming market has been growing by at least 35 percent this year (when adjustments are made for local market anomalies) it's unlikely many core RWS investors would be complaining.

Purchases by a Singapore company of stakes in Macau gaming operators–provided they are minority stakes–are unlikely to cause any regulatory difficulties for the Macau government. Whether the Singapore government will be as open-minded about GENS possibly buying into Macau, with the latter's exposure to junket operators, is another question.

Even if the aim of a Hong Kong listing were simply to raise cash for the core operation at RWS, it would face less investor resistance in the Hong Kong market than a secondary issue in Singapore. A Hong Kong listing could tap into the latent demand for gaming stocks in that market stimulated by the aggressive growth of Macau.

An alternative GENS cash-raising route–selling off existing shares in its Singapore entity to outside investors–faces significant hurdles in the Lion City. Singapore's Casino Control Act 2006 says any operator wishing to sell more than five percent of its voting shares must seek the express permission of the government. That's in order to ensure that the party or parties that own the casino operator don't change part way through the ten-year licence period.

Given that the timing on Hong Kong listings is determined by the local regulator, it seems doubtful that GENS would be able to get to market with any share offer ahead of MGM International's Initial Public Offering, expected later this year.

Reports of some kind of secondary share issue by GENS must be taken seriously, given that they came from CIMB Singapore, a company that acted as joint financial adviser and joint lead managers for GENS' first rights issue announced in September last year. That raised SD1.63 billion (USD1.14 billion).

http://www.asgam.com/component/k2/item/346-hong-kong-share-issue-for-genting-singapore?.html

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nOt mentiOned

BullishTempo ( Date: 20-Aug-2010 13:26) Posted:

Any idea when they announcing the junket approval?

pharoah88 ( Date: 20-Aug-2010 13:18) Posted:

Over 3Q 2010 4Q 2010 and 2011, additional new jackpot machines and gaming tables will be progressively installed.

By 2012, WEST WING WATER LEISURE THEME PARK will be FULLY OPEN.

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SAGE ENLIGHTENMENT

keepinvest ( Date: 19-Aug-2010 18:29) Posted:

0.3 is the low for the year, it means that everyone holding it within a year is paying above this price. Then who could be those profit takers? It's hard to believe that those holding for more than a year would want to sell for a small profit, and those just entering are selling on the news for peanuts Smiley

albeniz ( Date: 19-Aug-2010 18:13) Posted:

Patience is the keyword. One cannot quite expect this counter to arrive at 0.477 within a single day right?

There are folks whom might want to cash out for some profit-taking.

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CASINO JUNKET OPERATIONS will commence in 3Q 2010 and 4Q 2010.

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Genting UK SALE already gOne On

Wednesday: 18 August 2010 EGM ?

BullishTempo ( Date: 20-Aug-2010 10:27) Posted:

Fibonanci retracement analysis from a low of 0.86 on 26th April to a high of 1.68 on 17th August shows a possible downside retracement to between 1.30 and 1.36. Possible risk factor is the Genting UK sales to Genting Malaysia to be announced on Tuesday. If it is a "Go", upside movement may result. Invest at your own risk!

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Over 3Q 2010 4Q 2010 and 2011, additional new jackpot machines and gaming tables will be progressively installed.

By 2012, WEST WING WATER LEISURE THEME PARK will be FULLY OPEN.

pharoah88 ( Date: 20-Aug-2010 12:32) Posted:

JUNKET LICENCE

XO CIMB Seminar informed that Genting Singapore submitted its APPLICATION for JUNKET LICENCE.

APPROVAL is PROGRESS.

UPON RECEIPT OF JUNKET LICENCE

GENTING SINGAPORE's EARNINGS

WILL RISE tO the NEXT LEVEL.

hpong5 ( Date: 19-Aug-2010 09:31) Posted:

Genting Singapore may fall on candlestick: Technical analysis

Genting Singapore Plc, operator of one of two casino resorts in the city-state, may fall as a bearish candlestick pattern emerged after the stock surged to a record, according to OCBC Investment Research.

“Judging from the candlestick that emerged, the rally could have peaked,” Philip Teo, a technical analyst at OCBC Investment, said in an interview. “A strong correction could kick in over the next couple of days.”

Genting soared to a record close on Aug 13, a day after the company reported it returned to profitability in the second quarter on positive contributions from its casino resort in Singapore and as analysts upgraded their stocks ratings.

The stock climbed as much as 31% from the Aug 12 close through a record intra-day high of $1.68 on Aug 17 before it started falling, according to Bloomberg data. That decline helped create a long black candlestick with long upper shadow, indicating a potential reversal of the recent rally, Teo said.

“This will likely lead to a sharp correction,” Teo said. “The stock could retrace back to $1.30.” That was the previous record high set in December.

Genting Singapore rose 2% to $1.55 yesterday. That helped form a so-called harami reversal pattern, Teo said.

Candlestick charts show information on opening and closing prices and the trend within each trading period. If the closing price is above the open, the candlestick is clear, or white, indicating a bullish trend. If the stock closes lower than it opened, the candlestick is black, or bearish, according to StockCharts.com.

Harami Origins
A harami pattern is formed if the range between a security’s opening and closing prices falls within the equivalent range from the preceding day. The name, which is derived from the Japanese word for pregnancy, comes about because the body of the second day’s candle would fit within that created the day before.

Technical analysts observe price charts to forecast resistance levels, or ceilings restricting further price increases, and support levels, or floors limiting declines. They use trading patterns and prices to predict changes in a security, commodity, currency or index.

Source: Bloomberg

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A casino junket, where gamblers are flown to an area where legalized gambling is available and booked into a hotel-casino, both at the junket company's expense, in exchange for a cut of the gamblers' turnover from the casino

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Junket

From Wikipedia, the free encyclopedia

Jump to: navigation, search

Look up junket in Wiktionary, the free dictionary.

Junket can refer to:

an excursion for the purpose of pleasure at public expense (see Wiktionary link)
Junket (dessert), a dessert made of flavoured, sweetened curds
Junket (company), a brand name of rennet tablets and dessert mixes
A movie junket, where entertainment journalists are invited to see a movie and interview the stars of the movie before the movie's release
A casino junket, where gamblers are flown to an area where legalized gambling is available and booked into a hotel-casino, both at the junket company's expense, in exchange for a cut of the gamblers' turnover from the casino

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Junket Jun"ket, v. i. To feast; to banquet; to make an entertainment; -- sometimes applied opprobriously to feasting by public officers at the public cost.

Job's children junketed and feasted together often. South.

Junket Jun"ket, v. t. [imp. & p. p. Junketed; p. pr. & vb. n. Junketing.] To give entertainment to; to feast.

The good woman took my lodgings over my head, and was in such a hurry to junket her neighbors. Walpole.

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SYNONYMS

junket (n.)

excursion, expedition, jaunt, outing, pleasure cruise, pleasure trip, sashay, tour, trip

junket (v.)

banquet, feast, junketeer

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junket (n.)

1. a trip taken by an official at public expense

2. a journey taken for pleasure "many summer excursions to the shore" "it was merely a pleasure trip" "after cautious sashays into the field"

3. dessert made of sweetened milk coagulated with rennet

junket (v.)

1. partake in a feast or banquet

2. provide a feast or banquet for

3. go on a pleasure trip

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JUNKET LICENCE

XO CIMB Seminar informed that Genting Singapore submitted its APPLICATION for JUNKET LICENCE.

APPROVAL is PROGRESS.

UPON RECEIPT OF JUNKET LICENCE

GENTING SINGAPORE's EARNINGS

WILL RISE tO the NEXT LEVEL.

hpong5 ( Date: 19-Aug-2010 09:31) Posted:

Genting Singapore may fall on candlestick: Technical analysis

Genting Singapore Plc, operator of one of two casino resorts in the city-state, may fall as a bearish candlestick pattern emerged after the stock surged to a record, according to OCBC Investment Research.

“Judging from the candlestick that emerged, the rally could have peaked,” Philip Teo, a technical analyst at OCBC Investment, said in an interview. “A strong correction could kick in over the next couple of days.”

Genting soared to a record close on Aug 13, a day after the company reported it returned to profitability in the second quarter on positive contributions from its casino resort in Singapore and as analysts upgraded their stocks ratings.

The stock climbed as much as 31% from the Aug 12 close through a record intra-day high of $1.68 on Aug 17 before it started falling, according to Bloomberg data. That decline helped create a long black candlestick with long upper shadow, indicating a potential reversal of the recent rally, Teo said.

“This will likely lead to a sharp correction,” Teo said. “The stock could retrace back to $1.30.” That was the previous record high set in December.

Genting Singapore rose 2% to $1.55 yesterday. That helped form a so-called harami reversal pattern, Teo said.

Candlestick charts show information on opening and closing prices and the trend within each trading period. If the closing price is above the open, the candlestick is clear, or white, indicating a bullish trend. If the stock closes lower than it opened, the candlestick is black, or bearish, according to StockCharts.com.

Harami Origins
A harami pattern is formed if the range between a security’s opening and closing prices falls within the equivalent range from the preceding day. The name, which is derived from the Japanese word for pregnancy, comes about because the body of the second day’s candle would fit within that created the day before.

Technical analysts observe price charts to forecast resistance levels, or ceilings restricting further price increases, and support levels, or floors limiting declines. They use trading patterns and prices to predict changes in a security, commodity, currency or index.

Source: Bloomberg

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-S$0.05 @S$1.48 fOr one hour ?

rphoenix ( Date: 20-Aug-2010 11:28) Posted:

Sian. Drop little bit little bit. How to short?

Must drop 5 cents fast and go up 5 cents fast and drop 5 cents fast mah!

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FridaY: 20 AUGUST 2010 MORNING PULSE

lOw vOlume cOnsOlidatiOn

CHERRY PICKING

S$1.50 ~ S$1.49

accumulatIOn

S$1.48

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NOMURA SHOULD

INSPIRE ALL WITH

PROFIT TARGET

pharoah88 ( Date: 20-Aug-2010 10:10) Posted:

EVERYONE HAPPY

COLLECT RAIN WATER

S$1.01

pharoah88 ( Date: 20-Aug-2010 09:53) Posted:

NOMURA ?

WALK THE TALK ?

SHORT IT DOWN ?

S$1.01 ?

SHOW the PROFITS ?

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